Utility Trucks Market Forecast (2024-2031)
The Utility Trucks Market is expected to register a CAGR of 8.6% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Type (Garbage Truck, Fire Truck, Dump Truck, Sweeper Truck); Propulsion Type (Diesel, Gasoline, CNG, Electric, Hybrid). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the Report
The report Utility Trucks Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Utility Trucks Market Segmentation
Type
- Garbage Truck
- Fire Truck
- Dump Truck
- Sweeper Truck
Propulsion Type
- Diesel
- Gasoline
- CNG
- Electric
- Hybrid
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Utility Trucks Market: Strategic Insights
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Utility Trucks Market Growth Drivers
- Rising Environmental Consciousness: Rapid technological advancement is also driving the Utility Trucks Market. Automation, telematics, and electric vehicle technology are a few examples that enhance the efficiency of utility trucks. Increasing operational effectiveness and decreasing costs of operations are increasingly a reason for businesses across various industries because the improvements enhance operational effectiveness and performance.
- Growth of E-commerce and Logistics: There is an emerging demand for utility truck in the fast-growing e-commerce sector, which generates immense volumes of industrial trucks needed in these warehouses and distribution centers
Utility Trucks Market Future Trends
- Shift Towards Electric and Autonomous Trucks: Another sector of utility trucks where an increase in opportunity exists is in the development and adoption of electric and autonomous utility trucks. Electric trucks are gaining popularity in companies looking to reduce their carbon footprint as well as satisfy increasingly more stringent regulatory emissions rules.
- Expansion in Emerging Markets:Emerging Markets Growth in emerging markets is one of the major opportunities for the Utility Trucks Market . As developing countries start modernizing their infrastructure and developing their industrial basis, utility truck will be increasingly in demand.
Utility Trucks Market Opportunities
- Increased Sustainability Focus: Going off the pattern in Utility Trucks Market trends, the future is one of sustainability trends ever more pronounced. Interest in green practices appears to be impacting more and more companies; hence, there exists a trend toward electric trucks and alternative fuel options. That's both in terms of regulatory pressure but also from the demand from consumers for greener options.
- Data Analytics and Telematics Integration: Integration of data analytics with telematics has resulted in transforming the way businesses function. These technologies provide real-time data for determining the condition of vehicles, what kind of maintenance is required, efficiency in operations, and thus allow proper decision-making and optimization in logistics processes.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Utility Trucks Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Utility Trucks Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on the request are an additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The leading players operating in the Utility Trucks Market include Auto Crane (Dover Corporation), Bucher Industries, BYD Motors, Inc, Daimler AG, Elliott Equipment Company, Hiab (Cargotec Corporation), IMT (Iowa Mold Tooling Co., Inc.), Manitex International, Inc., AB Volvo, Aichi Corporation
Increased sustainability focus is the key future trend of the Utility Trucks Market
The Utility Trucks Market is estimated to witness a CAGR of 8.6% from 2023 to 2031
The major factors driving the Utility Trucks Market are:Rising Environmental Consciousness#Growth of E-commerce and Logistics
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Utility Trucks Market - By Type
1.3.2 Utility Trucks Market - By Propulsion Type
1.3.3 Utility Trucks Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. UTILITY TRUCKS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER’S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. UTILITY TRUCKS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. UTILITY TRUCKS MARKET - GLOBAL MARKET ANALYSIS
6.1. UTILITY TRUCKS - GLOBAL MARKET OVERVIEW
6.2. UTILITY TRUCKS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. UTILITY TRUCKS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. GARBAGE TRUCK
7.3.1. Overview
7.3.2. Garbage Truck Market Forecast and Analysis
7.4. FIRE TRUCK
7.4.1. Overview
7.4.2. Fire Truck Market Forecast and Analysis
7.5. DUMP TRUCK
7.5.1. Overview
7.5.2. Dump Truck Market Forecast and Analysis
7.6. SWEEPER TRUCK
7.6.1. Overview
7.6.2. Sweeper Truck Market Forecast and Analysis
8. UTILITY TRUCKS MARKET - REVENUE AND FORECASTS TO 2028 - PROPULSION TYPE
8.1. OVERVIEW
8.2. PROPULSION TYPE MARKET FORECASTS AND ANALYSIS
8.3. DIESEL
8.3.1. Overview
8.3.2. Diesel Market Forecast and Analysis
8.4. GASOLINE
8.4.1. Overview
8.4.2. Gasoline Market Forecast and Analysis
8.5. CNG
8.5.1. Overview
8.5.2. CNG Market Forecast and Analysis
8.6. ELECTRIC
8.6.1. Overview
8.6.2. Electric Market Forecast and Analysis
8.7. HYBRID
8.7.1. Overview
8.7.2. Hybrid Market Forecast and Analysis
9. UTILITY TRUCKS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Utility Trucks Market Overview
9.1.2 North America Utility Trucks Market Forecasts and Analysis
9.1.3 North America Utility Trucks Market Forecasts and Analysis - By Type
9.1.4 North America Utility Trucks Market Forecasts and Analysis - By Propulsion Type
9.1.5 North America Utility Trucks Market Forecasts and Analysis - By Countries
9.1.5.1 United States Utility Trucks Market
9.1.5.1.1 United States Utility Trucks Market by Type
9.1.5.1.2 United States Utility Trucks Market by Propulsion Type
9.1.5.2 Canada Utility Trucks Market
9.1.5.2.1 Canada Utility Trucks Market by Type
9.1.5.2.2 Canada Utility Trucks Market by Propulsion Type
9.1.5.3 Mexico Utility Trucks Market
9.1.5.3.1 Mexico Utility Trucks Market by Type
9.1.5.3.2 Mexico Utility Trucks Market by Propulsion Type
9.2. EUROPE
9.2.1 Europe Utility Trucks Market Overview
9.2.2 Europe Utility Trucks Market Forecasts and Analysis
9.2.3 Europe Utility Trucks Market Forecasts and Analysis - By Type
9.2.4 Europe Utility Trucks Market Forecasts and Analysis - By Propulsion Type
9.2.5 Europe Utility Trucks Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Utility Trucks Market
9.2.5.1.1 Germany Utility Trucks Market by Type
9.2.5.1.2 Germany Utility Trucks Market by Propulsion Type
9.2.5.2 France Utility Trucks Market
9.2.5.2.1 France Utility Trucks Market by Type
9.2.5.2.2 France Utility Trucks Market by Propulsion Type
9.2.5.3 Italy Utility Trucks Market
9.2.5.3.1 Italy Utility Trucks Market by Type
9.2.5.3.2 Italy Utility Trucks Market by Propulsion Type
9.2.5.4 United Kingdom Utility Trucks Market
9.2.5.4.1 United Kingdom Utility Trucks Market by Type
9.2.5.4.2 United Kingdom Utility Trucks Market by Propulsion Type
9.2.5.5 Russia Utility Trucks Market
9.2.5.5.1 Russia Utility Trucks Market by Type
9.2.5.5.2 Russia Utility Trucks Market by Propulsion Type
9.2.5.6 Rest of Europe Utility Trucks Market
9.2.5.6.1 Rest of Europe Utility Trucks Market by Type
9.2.5.6.2 Rest of Europe Utility Trucks Market by Propulsion Type
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Utility Trucks Market Overview
9.3.2 Asia-Pacific Utility Trucks Market Forecasts and Analysis
9.3.3 Asia-Pacific Utility Trucks Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Utility Trucks Market Forecasts and Analysis - By Propulsion Type
9.3.5 Asia-Pacific Utility Trucks Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Utility Trucks Market
9.3.5.1.1 Australia Utility Trucks Market by Type
9.3.5.1.2 Australia Utility Trucks Market by Propulsion Type
9.3.5.2 China Utility Trucks Market
9.3.5.2.1 China Utility Trucks Market by Type
9.3.5.2.2 China Utility Trucks Market by Propulsion Type
9.3.5.3 India Utility Trucks Market
9.3.5.3.1 India Utility Trucks Market by Type
9.3.5.3.2 India Utility Trucks Market by Propulsion Type
9.3.5.4 Japan Utility Trucks Market
9.3.5.4.1 Japan Utility Trucks Market by Type
9.3.5.4.2 Japan Utility Trucks Market by Propulsion Type
9.3.5.5 South Korea Utility Trucks Market
9.3.5.5.1 South Korea Utility Trucks Market by Type
9.3.5.5.2 South Korea Utility Trucks Market by Propulsion Type
9.3.5.6 Rest of Asia-Pacific Utility Trucks Market
9.3.5.6.1 Rest of Asia-Pacific Utility Trucks Market by Type
9.3.5.6.2 Rest of Asia-Pacific Utility Trucks Market by Propulsion Type
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Utility Trucks Market Overview
9.4.2 Middle East and Africa Utility Trucks Market Forecasts and Analysis
9.4.3 Middle East and Africa Utility Trucks Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Utility Trucks Market Forecasts and Analysis - By Propulsion Type
9.4.5 Middle East and Africa Utility Trucks Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Utility Trucks Market
9.4.5.1.1 South Africa Utility Trucks Market by Type
9.4.5.1.2 South Africa Utility Trucks Market by Propulsion Type
9.4.5.2 Saudi Arabia Utility Trucks Market
9.4.5.2.1 Saudi Arabia Utility Trucks Market by Type
9.4.5.2.2 Saudi Arabia Utility Trucks Market by Propulsion Type
9.4.5.3 U.A.E Utility Trucks Market
9.4.5.3.1 U.A.E Utility Trucks Market by Type
9.4.5.3.2 U.A.E Utility Trucks Market by Propulsion Type
9.4.5.4 Rest of Middle East and Africa Utility Trucks Market
9.4.5.4.1 Rest of Middle East and Africa Utility Trucks Market by Type
9.4.5.4.2 Rest of Middle East and Africa Utility Trucks Market by Propulsion Type
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Utility Trucks Market Overview
9.5.2 South and Central America Utility Trucks Market Forecasts and Analysis
9.5.3 South and Central America Utility Trucks Market Forecasts and Analysis - By Type
9.5.4 South and Central America Utility Trucks Market Forecasts and Analysis - By Propulsion Type
9.5.5 South and Central America Utility Trucks Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Utility Trucks Market
9.5.5.1.1 Brazil Utility Trucks Market by Type
9.5.5.1.2 Brazil Utility Trucks Market by Propulsion Type
9.5.5.2 Argentina Utility Trucks Market
9.5.5.2.1 Argentina Utility Trucks Market by Type
9.5.5.2.2 Argentina Utility Trucks Market by Propulsion Type
9.5.5.3 Rest of South and Central America Utility Trucks Market
9.5.5.3.1 Rest of South and Central America Utility Trucks Market by Type
9.5.5.3.2 Rest of South and Central America Utility Trucks Market by Propulsion Type
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. UTILITY TRUCKS MARKET, KEY COMPANY PROFILES
11.1. AEBI SCHMIDT GROUP
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. AB VOLVO
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. BUCHER INDUSTRIES
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. BYD MOTORS INC.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. CHINA FAW GROUP CO.,LTD.
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. DAIMLER AG
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. DONGFENG COMMERCIAL VEHICLE COMPANY LIMITED
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. DOVER CORPORATION
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. MAGIRUS
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. ROSENBAUER INTERNATIONAL AG.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
1. Aebi Schmidt Group
2. AB Volvo
3. Bucher Industries
4. BYD Motors Inc.
5. China FAW Group Co.,Ltd.
6. Daimler AG
7. Dongfeng Commercial Vehicle Company Limited
8. Dover Corporation
9. Magirus
10. Rosenbauer International AG.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Get Free Sample For